An Accredited Management Organization (AMO) is a prestigious designation awarded to property management firms by the Institute of Real Estate Management (IREM). This credential recognizes firms that meet high ethical and operational standards.
A conflict of interest in real estate arises when an individual faces a potential decision in an official capacity from which they stand to benefit personally. This often necessitates the individual stepping down from one role to maintain ethical standards.
Ethics principles by which one treats colleagues, clients, and the public in a fair, just, and truthful manner. Adherence to such standards is considered one of the requisites for recognition as a profession.
Kickbacks are fees or rebates paid to an agent or other participant in a transaction as an incentive to refer customers to a particular vendor, without any actual service provided to the customer besides the referral. These practices are often illegal and can jeopardize the integrity of the real estate transaction.
Uniform Standards of Professional Appraisal Practice (USPAP) is a set of requirements covering ethics, record keeping, research, and reporting promulgated by the Appraisal Foundation, and adhered to by its members.
